Pristina, February 24, - IFC, a member of the World Bank Group, in partnership with the Kosovo Banking Association will support the local banking sector to strengthen the relevant risk management systems, assist in improving management of non-performing loans, and improve small and medium enterprise (SME) banking through trainings and workshops. Today’s signing ceremony is to celebrate the beginning of this cooperation.

“IFC’s engagement in the financial sector of Kosovo and the broader Balkans region remains a strategic priority and includes a combination of investment and advisory services,” said Thomas Lubeck, IFC Regional Manager for Western Balkans. “Under this cooperation we will bring our global knowledge and build upon local expertise of the partner Kosovo Banking Association to deliver targeted advice.”

Until June 2017, IFC and the Kosovo Banking Association will roll out a series of trainings and workshops covering risk governance, operational risk, liquidity, distressed assets resolution, and SME banking.

“Kosovo Banking Association has had a good cooperation with IFC in several different areas, including capacity building of the banking sector. This cooperation agreement will enable the banking sector to access a number of advanced training in some of the most important topics for the sector “said Mr. Petrit Balija, executive director of the Kosovo Banking Association.

In addition to this series of specially tailored trainings, in early March, IFC is planning to organize Innovations in SME Banking Conference in Belgrade, Serbia, mobilizing representatives of the financial sector from across the Balkans. This will be an opportunity to showcase the most recent banking products and best practices for lending to SMEs, emphasizing a comprehensive approach that covers all key areas, from a sound business model and proper product design to wide sales channels and sound risk management.

IFC’s regional work to strengthen financial systems in Eastern Europe and Central Asia is supported with funds from Swiss State Secretariat for Economic Affairs (SECO).

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.

Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most.

In fiscal year 2015, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.

About KBA

Kosovo Banking Association (KBA) represents the banking industry in Kosovo by cooperating with the Government, the Central Bank of the Republic of Kosovo, International organizations and civil society, the media, and the public opinion.

 The aim of KBA is to support a healthy banking system and open and fair competition as well as financial education and literacy for banking clients, which promotes the long-term economic development in Kosovo.

The Kosovo Banking Association facilitates the cooperation between banks while offering a single platform for discussion of new initiatives; identifies and reviews legal and regulative initiatives; coordinates common activities for banking industry and promotes banking activities in front of the wide audience.

Established in 2002, the KBA is a main reference point related to the issues that deal with the banking sector in Kosovo. KBA represents nine commercial banks: Banka Ekonomike, Banka Kombëtare Tregtare, Banka për Biznes, IsBank, NLB Prishtina, ProCredit Bank, Raiffeisen Bank, TEB Bank and Ziraat Bank.

KBA is the voice of banking industry in Kosovo. For more information, please visit www.bankassoc-kos.com.